PWON – Hit by PSBB Tightening
The strict PSBB (Large-Scale Social Restrictions) period in 2Q20 caused PWON's revenue to fall to IDR324 billion (-82.2%
PGAS – Lower Results than Expected
PGAS reported 1H20 net profit of USD6.8 million or declining 88% YoY which means operational results still below our
MAPI – Overshadowed by a Prolonged PSBB
Retail has been one of the industries being hit the hardest by the pandemic, especially during 2Q20. However, we still
EXCL – PSBB Positively Impacting Data Segment
EXCL booked growth in data segment by 16.5% YoY. The segment manages to jump significantly due to PSBB that forces
WIKA – New Contract Optimalization
WIKA booked a net profit of IDR151 billion (-75% YoY) or -27% from our expectations. Construction sector, which is still
ICBP – Maintaining Positive Momentum from Acquisition
In the middle of an unprecedented pandemic, ICBP still enjoyed stronger earnings growth along with revenue growth. We
TOWR – Satisfactory Performance During PSBB
The PSBB period was a positive wind for the tower industry. It can be seen that TOWR's growing revenue was driven by the
ANTM – Performance Above Expectations
ANTM posted a net profit of IDR85 billion in 1H20 and outperformed our expectations. In 2Q20, ANTM recorded a net profit
BBNI – An Attractive Valuation with Low Cost of Fund
Allowance for impairment losses, which increased the provision fee up to 88.2% YoY, pushed down BBNI's net profit by
